Magnetar Financial LLC Makes New $795,000 Investment in RBC Bearings Incorporated $RBC

Key Points

• Magnetar Financial LLC acquired a new stake in RBC Bearings Incorporated during Q1, purchasing 2,472 shares valued at approximately $795,000.
• The company reported quarterly earnings of $2.84 per share, exceeding analyst estimates of $2.74, with revenue reaching $436 million, up 7.3% year-over-year.
• Zacks Research upgraded RBC Bearings from a "hold" to a "strong-buy" rating, while various analysts have raised target prices, reflecting positive sentiment in the market.

Magnetar Financial LLC purchased a new stake in RBC Bearings Incorporated (NYSE:RBC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,472 shares of the industrial products company's stock, valued at approximately $795,000.

Several other hedge funds have also bought and sold shares of the business. NBC Securities Inc. purchased a new position in RBC Bearings during the 1st quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of RBC Bearings by 109.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 113 shares of the industrial products company's stock worth $36,000 after purchasing an additional 59 shares during the period. Golden State Wealth Management LLC raised its stake in shares of RBC Bearings by 107.1% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the industrial products company's stock worth $85,000 after purchasing an additional 136 shares during the period. UMB Bank n.a. raised its stake in RBC Bearings by 80.8% in the 1st quarter. UMB Bank n.a. now owns 311 shares of the industrial products company's stock valued at $100,000 after acquiring an additional 139 shares during the period. Finally, SVB Wealth LLC bought a new stake in RBC Bearings in the 1st quarter valued at about $111,000.

Insider Buying and Selling

In related news, Director Steven H. Kaplan sold 400 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $381.30, for a total transaction of $152,520.00. Following the sale, the director directly owned 2,499 shares of the company's stock, valued at $952,868.70. This trade represents a 13.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Daniel A. Bergeron sold 48,743 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $402.75, for a total value of $19,631,243.25. Following the sale, the chief operating officer directly owned 111,134 shares in the company, valued at $44,759,218.50. This trade represents a 30.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 125,716 shares of company stock valued at $48,818,116. Insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

RBC has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on RBC Bearings in a report on Wednesday, July 16th. They set a "buy" rating and a $480.00 price objective for the company. KeyCorp boosted their price objective on RBC Bearings from $405.00 to $450.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Zacks Research raised RBC Bearings from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 13th. The Goldman Sachs Group upped their target price on RBC Bearings from $375.00 to $416.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $415.00 target price (up previously from $390.00) on shares of RBC Bearings in a research note on Tuesday, May 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $425.17.

RBC Bearings Trading Down 1.2%

Shares of RBC Bearings stock traded down $4.70 during midday trading on Wednesday, reaching $383.01. 91,024 shares of the company's stock traded hands, compared to its average volume of 166,583. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.33 and a current ratio of 3.33. The company has a market cap of $12.09 billion, a PE ratio of 48.24, a price-to-earnings-growth ratio of 3.02 and a beta of 1.73. The stock has a 50 day moving average of $391.62 and a 200-day moving average of $363.65. RBC Bearings Incorporated has a 12 month low of $272.50 and a 12 month high of $416.33.

RBC Bearings (NYSE:RBC - Get Free Report) last announced its earnings results on Friday, August 1st. The industrial products company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.74 by $0.10. The company had revenue of $436.00 million during the quarter, compared to the consensus estimate of $432.63 million. RBC Bearings had a return on equity of 10.14% and a net margin of 15.20%.The firm's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.54 earnings per share. RBC Bearings has set its Q2 2026 guidance at EPS. As a group, equities analysts expect that RBC Bearings Incorporated will post 9.16 EPS for the current fiscal year.

RBC Bearings Company Profile

RBC Bearings Incorporated manufactures and markets engineered precision bearings, components, and systems in the United States and internationally. It operates through two segments, Aerospace/Defense and Industrial. The company produces plain bearings with self-lubricating or metal-to-metal designs, including rod end bearings, spherical plain bearings, and journal bearings; roller bearings, such as tapered roller bearings, needle roller bearings, and needle bearing track rollers and cam followers, which are anti-friction products that are used in industrial applications and military aircraft platforms; and ball bearings include high precision aerospace, airframe control, thin section, and industrial ball bearings that utilize high precision ball elements to reduce friction in high-speed applications.